[LatteLazy]

So Europe should have spent trillions building a massive nuclear capacity and switching to all electric just because? Presumably every other country or trade block that imports energy needs to do the same? Seems a bit extreme no?

[emteycz]

Not "just because" but "because relying on unstable allies and warlords is not good for the citizens in the long term".

Other powers seem to have other local options, so they don't need to build nuclear as much as Europe does.

[LatteLazy]

But that's the situation everyone is in isn't it? If the Saudis and Iran stop pumping oil then all developed economies will be in the shit. But I don't see any nation radically building vast nuclear facilities... The same goes for China and cheap consumer goods or Taiwan and semiconductors.

The only place that's even close to independent is North Korea...

[rad_gruchalski]

> If the Saudis and Iran stop pumping oil then all developed economies will be in the shit.

Oil is 70% of KSA export earnings. If they stop selling, they are also in shit. Iran is 5% of worldwide supply, biggest buyer is China.

[LatteLazy]

Saudi cut their pumps last year didn't they? After 40 odd years of OPEC prices they can afford to just pour money out like a fire hose for a long time...